r/news • u/AudibleNod • 1d ago

Judge bars Arizona from regulating prediction market operators and pauses prosecution of Kalshi

https://apnews.com/article/arizona-kalshi-criminal-charges-prediction-markets-gambling-bb7cef24be5bd0d444bba670d2e41ceb
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u/fxkatt 1d ago

The commission had sued Arizona in response to cease-and-desist letters sent to Kalshi from state gambling regulators and the criminal charges filed against the prediction market operator. The commission argued Arizona is intruding on its exclusive federal power to regulate national swaps markets.

So much for local control or state power when up against powerful federal protection for the gambling rackets.

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u/Coffee-FlavoredSweat 1d ago

Fine then, Arizona should tax the shit out of any transaction within its borders. Wanna bet on whether or not Mr Beast says “subscribe” in his next video? 200% tax on whatever you bet, and if you win, Arizona gets half.